What is money laundering - Study guides, Class notes & Summaries

How long after being entitled to disability benefits will an individual be eligible to receive Medicare benefits? A. immediately B. 1 year C. 2 years D. At age 65 - ANSWER-2 years What is the return of premium rider? A. an increasing amount of term insurance that always equals the total of premiums paid up to the current point B. a provision that allows the insured to cancel the policy in the first two years and have premiums refunded C. an increasing amount of term insurance that e...

Which of the following is TRUE for a regulated firm under Money Laundering rules and regulations? correct answers Staff must be trained to recognise and deal with suspicious transactions Under the Proceeds of Crime Act 2002, criminal property is defined as correct answers any benefit derived from criminal behaviour Under what legislative framework can certain consumer bodies alert the FCA to supercomplaints? correct answers Financial Services Act 2012 The FCA`s COBS rules apply to: corr...

What is money laundering? - answer-taking criminal proceeds and disguising their illegal sources to use the funds for legal or illegal acts. Give an example of the second stage of money laundering. - answer-layering - electronically moving funds between countries; moving funds between financial institutions; and converting cash placed into the system into monetary instruments. Give an example of the third stage of money laundering. - answer-integration - purchasing luxury assets; and inves...

FINANCIAL CRIMES COMPLIANCE | 118 COMPLETE QUESTIONS AND ANSWERS VERIFIED BY EXPERT 100% CORRECT | UPDATED Define a search warrant and describe how it is issued. - ANSWER Granted permission from a court, for a law enforcement agency to search designated premises and to seize specific categories of items or documents. Generally, the requesting agency is required to establish that probable cause exists that evidence of a crime will be located. This document is authorized based on information con...

SIE exam caril: complete study guide Q-bank answered latest spring 2023. What type of risk is unique to a specific industry, business enterprise, or investment type? - Under which of the following circumstances is an investor in a position to acquire stock? - Options- a premium - Options- strike price A customer believes that ABC's price will go up but does not have the money to buy 100 shares right now. How could the customer use options to profit from an increase in the sto...

CAMS Exam Questions & Answers 2024/2025 What is money laundering? - ANSWERStaking CRIMINAL proceeds and disguising their illegal sources to USE the funds for LEGAL or ILLEGAL acts. Give an example of the SECOND stage of money laundering. - ANSWERSLayering - Electronically moving funds between countries; moving funds between financial institutions; and converting cash placed into the system into monetary instruments. Give an example of the THIRD stage of money laundering. - ANSWERSInte...

AML Exam (CE) Questions and Answers 2023 1. The information an insurance agent must collect for customer identification purposes depends on a. the amount of money the customer is worth. b. The amount of money the customer spends. c. whether the insurance product the customer is purchasing at a low or high risk for money laundering. d. the size and resources of the insurance company. c. Whether the insurance product under consideration is at a low or high risk for money laundering 2....

1. The information an insurance agent must collect for customer identification purposes depends on a. the amount of money the customer is worth. b. The amount of money the customer spends. c. whether the insurance product the customer is purchasing at a low or high risk for money laundering. d. the size and resources of the insurance company. - Answer- c. Whether the insurance product under consideration is at a low or high risk for money laundering 2. When Tom Jensin mixes illicit and le...

What type of risk is unique to a specific industry, business enterprise, or investment type? - ANSWER-Nonsystematic risk Under which of the following circumstances is an investor in a position to acquire stock? - ANSWER-Buy a call, sell a call (The holder of a call has the right to buy stock at the strike price if exercised. The seller of a put is obligated to buy stock at the strike price if exercised) Options- a premium - ANSWER-the cost of an option contract, expressed in dollars per sh...

CAMS Exam Practice Questions & Answers 2024/2025 How do drug traffickers and other criminals use the fine art industry to disguise illicit proceeds? A. They use forged or fraudulent invoicing of priceless works of art by auction houses B. They commingle legitimate and illicit proceeds by principals for payment of fine art C. They immediately resell priceless works of art after purchase from a foreign auction house D. They use anonymous agents to buy the art and have the payment wired from ...